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Meta Platforms Inc | NASDAQ:META | NASDAQ | Common Stock |
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By Yuliya Chernova
Redwood City, Calif.-- Oracle Corp. paid more than $1.2 billion to acquire marketing analytics company Datalogix Holdings Inc., according to two people familiar with the situation.
Oracle announced its intent to buy Datalogix on Dec. 22. without disclosing the purchase price. The deal closed on Jan. 23, according to Datalogix's website.
An Oracle spokeswoman declined to comment on Wednesday.
Datalogix merges data about shoppers' purchases in brick-and-mortar stores with their online habits. It helps marketers target online ads to audiences in narrow categories, going deeper than the standard broad breakdowns by age and gender. Datalogix says it also can show when online display ads result in physical store purchases.
According to Oracle, Datalogix analyzes information on more than $2 trillion in consumer spending and has 650 customers, including Ford Motor Co. and Kraft Foods Group Inc., as well as digital-media companies such as Facebook Inc. and Twitter Inc.
Advertisers are increasingly spending money on software to analyze data and make decisions, and big software companies such as Oracle and Salesforce.com Inc. are angling to take a larger part of the market.
Oracle has been on a shopping spree recently, buying marketing technology companies such as Responsys Inc. and Blue Kai Inc. last year and Eloqua Inc. in 2013.
Before the acquisition, Datalogix had been exploring an initial public offering. The Wall Street Journal reported last year that Datalogix was working with banks including Goldman Sachs, Deutsche Bank AG and Barclays PLC on a potential IPO.
The acquisition ends a long saga for Datalogix.
Cambridge, Mass.-based venture firm General Catalyst Partners created a startup called Datalogix in 2007. The idea was to use consumer purchasing information to better target online ads. Rob Gierkink, then an entrepreneur in residence at the venture firm, was working on the idea after co-founding and running major U.K. and Canadian loyalty programs.
Datalogix was in its very early stages when the recession hit. Companies were cheap, and General Catalyst spearheaded a purchase of a struggling company called NextAction Corp.
That company, which had been operating since 2002, was largely focused on supplying marketing information to catalog advertisers. By that time, NextAction had "defaulted on loans and its venture capital investors had cut their contributions," according to Datalogix's website. The General Catalyst-led acquisition was for a purchase price in the eight figures, according to VentureWire archives.
NextAction and Datalogix merged and rode a wave of demand for digital marketing know-how and information. Companies like Facebook use Datalogix to show advertisers that their ads are effective.
In subsequent years, the company raised new capital. Institutional Venture Partners led a $25 million round in 2013. Jim Breyer, an early backer of Facebook while at Accel Partners, invested in Datalogix in 2014, out of his Breyer Capital, and joined the board. Wellington Management, which invests in publicly traded and private companies, as well as in other assets, led a $45 million round last year.
Eric Roza, who ran Datalogix after the merger with NextAction, has joined Oracle and will continue heading up the Datalogix business, according to one of the people familiar with the matter.
The startup had about 375 employees in Westminster, Colo., Chicago, Detroit, New York and San Francisco.
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